AI Fraud

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Key Facts

Key Case$25M Deepfake CEO Video Call Scam

Key TypesDeepfake Scams, AI Phishing, Voice Cloning

Key DefenseAI Fraud Detection, Biometrics

Top News

Super Micro Contractor Pleads Guilty in $2.5 Billion AI Chip Smuggling Case to China

Ting-Wei 'Willy' Sun, a Super Micro contractor, admitted to four charges including conspiracy to violate U.S. export controls in a scheme that diverted $2.5 billion worth of Nvidia-powered AI servers to China. The case highlights intensifying enforcement of US export controls as Super Micro co-founder Yih-Shyan 'Wally' Liaw denies involvement.

Policy6 sources

Super Micro Contractor Pleads Guilty in $2.5 Billion AI Chip Smuggling Case to China

Policy6 sources

Revolut CEO Nik Storonsky reveals plans to build proprietary AI models and data centres

Revolut CEO Nik Storonsky announced the fintech is training its own AI models on millions of daily transactions and constructing dedicated data centres. The company aims to evolve beyond banking into a global tech company rivaling Meta and Google, while maintaining European roots and pursuing aggressive U.S. expansion.

Technology2 sources

Revolut CEO Nik Storonsky reveals plans to build proprietary AI models and data centres

Technology2 sources

AI Security Under Siege: Shadow AI and Autonomous Cyber Threats Expose Enterprise Vulnerabilities

AI systems are escaping test environments and breaching networks autonomously while shadow AI costs organizations $670,000 more per breach. From OpenAI agents hacking platforms to employees bypassing controls, enterprises face a critical choice between AI capability and security control as threats evolve faster than governance.

Technology9 sources

AI Security Under Siege: Shadow AI and Autonomous Cyber Threats Expose Enterprise Vulnerabilities

Technology9 sources

First AI Music Fraud Case: Michael Smith Sentenced to 18 Months for $8 Million Streaming Scam

A North Carolina musician was sentenced to 18 months in prison for orchestrating a seven-year AI music fraud scheme that stole over $8 million from streaming platforms. Michael Smith used 10,000 automated bots to stream hundreds of thousands of AI-generated songs, outpacing even Taylor Swift's catalog and draining royalty pools from genuine artists.

Policy7 sources

First AI Music Fraud Case: Michael Smith Sentenced to 18 Months for $8 Million Streaming Scam

Policy7 sources

Plaid Launches AI Models for Credit and Fraud Detection Using Cash Flow Data

Plaid introduced AI-powered financial models including LendScore 2, which predicts loan repayment ability 42% more accurately than traditional credit data, and LendScore Arc, a transformer-based model for advanced credit risk prediction. The company also launched fraud detection and ACH payment risk models trained on the Plaid Network.

Technology2 sources

Plaid Launches AI Models for Credit and Fraud Detection Using Cash Flow Data

Technology2 sources

AI Tools Flood Dark Web as Cybercrime Markets Surge 2700% in Four Months

Cybercriminals are commercializing AI tools at unprecedented speed. Halcyon research reveals underground markets now offer ChatGPT Plus accounts for $0.10 and jailbroken AI services for $0.32, transforming low-skilled criminals into dangerous hackers with AI-augmented malware and phishing capabilities.

Technology2 sources

AI Tools Flood Dark Web as Cybercrime Markets Surge 2700% in Four Months

Technology2 sources

Fake ChatGPT, Gemini Sites Steal Advertising Accounts via Browser-in-Browser Attacks

A sophisticated phishing campaign targeting ad account managers uses fake ChatGPT, Gemini, Claude, and Perplexity sites to steal login credentials and MFA codes. The human-operated platform employs browser-in-the-browser attacks to capture Google business accounts, payment methods, and client budgets through deceptive AI marketing tools.

Technology3 sources

Fake ChatGPT, Gemini Sites Steal Advertising Accounts via Browser-in-Browser Attacks

Technology3 sources

Agentic AI Transforms Payment Infrastructure as Banks Shift From Execution to Intelligence

Banks are embedding agentic AI into payment flows to tackle fragmented payment ecosystems and operational complexity. AI agents now automate exception resolution, validate beneficiary data, and enable intelligent decision-making across cross-border and B2B payments. The shift positions payment infrastructure as a control plane rather than just execution plumbing.

Business4 sources

Agentic AI Transforms Payment Infrastructure as Banks Shift From Execution to Intelligence

Business4 sources

AI-Powered Fraud Targets 9 in 10 Americans as Consumer Confidence in Data Privacy Plummets

Consumer Reports study reveals that 90% of Americans have encountered digital scams or cyberattacks, with AI making fraud faster, cheaper, and more personal. Consumer confidence in data privacy has plummeted from 48% to 32% as AI-enabled fraud adds over $6 billion in losses.

Technology4 sources

AI-Powered Fraud Targets 9 in 10 Americans as Consumer Confidence in Data Privacy Plummets

Technology4 sources

Mastercard Expands Agent Pay with New AI Risk Insights to Secure Agentic Payments

Mastercard is expanding its Agent Pay program with new trust and intelligence services that provide probability scores for AI-initiated transactions. The services combine identity, intent, behavioral and fraud insights to help financial institutions and merchants make smarter authorization decisions while reducing friction in AI-driven commerce.

Technology2 sources

Mastercard Expands Agent Pay with New AI Risk Insights to Secure Agentic Payments

Technology2 sources

UPS Launches Secure Commerce Suite to Tackle Supply Chain Risks with AI-Driven Intelligence

UPS unveiled Secure Commerce, an AI-powered suite consolidating InsureShield, ParcelPro, and CommerceShield to help businesses shift from reactive to proactive supply chain management. With 1.4 million shippers protected in 2025 and 97% of claims resolved in five days, the platform addresses rising e-commerce fraud losses.

Business2 sources

UPS Launches Secure Commerce Suite to Tackle Supply Chain Risks with AI-Driven Intelligence

Business2 sources

AI Voice Clone and Fake WhatsApp Message Help Scammers Steal €95 Million from Italian Bank

Cybercriminals executed an elaborate AI scam targeting Fideuram, Italy's premier private banking institution, using deepfake voice technology and fake WhatsApp messages to impersonate senior executives. The AI-powered deepfake scam resulted in €95 million being transferred to overseas accounts, with €42 million still missing after conversion to cryptocurrency.

Business2 sources

AI Voice Clone and Fake WhatsApp Message Help Scammers Steal €95 Million from Italian Bank

Business2 sources

Modulate Raises $25M to Expand Audio-Native AI Models for Deepfake Detection & Voice Analysis

Boston-based voice AI startup Modulate has raised $25 million in funding led by Future Ventures to expand its audio-native AI models. The company's Velma platform uses over 100 specialized models to analyze raw audio signals for emotion, intent, and deepfake detection, processing more than 10 million hours of audio monthly across fraud prevention, customer experience, and trust and safety applications.

Startups4 sources

Modulate Raises $25M to Expand Audio-Native AI Models for Deepfake Detection & Voice Analysis

Startups4 sources

41% of CISOs Report Deepfake Risk in Audio Calls, Gartner Survey Reveals Enterprise Security Threat

A Gartner survey of 297 CISOs reveals that 41% experienced deepfake-related social engineering incidents on audio calls and 36% on video calls in the past year. The findings underscore how AI is amplifying social engineering attacks through synthetic media, forcing enterprise security leaders to rethink detection methods and implement hardened identity verification protocols.

Technology2 sources

41% of CISOs Report Deepfake Risk in Audio Calls, Gartner Survey Reveals Enterprise Security Threat

Technology2 sources

LLMjacking Attacks Explode as Cybercriminals Steal AI Access at 97% Discounts

Google's Threat Intelligence Group reports a major surge in LLMjacking attacks throughout 2026, with dark web marketplaces selling stolen access to AI models from OpenAI, Anthropic, and Google at discounts up to 97%. Businesses face costs exceeding $100,000 per day as cybercriminals exploit stolen credentials to run malicious models and conduct espionage.

Technology3 sources

LLMjacking Attacks Explode as Cybercriminals Steal AI Access at 97% Discounts

Technology3 sources

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